The Chemours Company (NYSE:CC) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in The Chemours Company (NYSE:CC) by 16.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,688 shares of the specialty chemicals company’s stock after buying an additional 2,657 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chemours were worth $589,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CC. Deutsche Bank AG lifted its stake in Chemours by 4,407.9% in the third quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after buying an additional 1,720,389 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Chemours by 11.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock valued at $173,800,000 after purchasing an additional 612,071 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Chemours by 10.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,160,740 shares of the specialty chemicals company’s stock valued at $88,659,000 after purchasing an additional 286,076 shares during the period. Tudor Investment Corp Et Al grew its position in Chemours by 10,530.9% in the 3rd quarter. Tudor Investment Corp Et Al now owns 219,049 shares of the specialty chemicals company’s stock worth $6,144,000 after purchasing an additional 221,149 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Chemours in the fourth quarter valued at approximately $4,711,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CC has been the subject of several analyst reports. Barclays reduced their price objective on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $34.00 in a research note on Tuesday, April 9th. Finally, UBS Group raised their price target on Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Chemours has a consensus rating of “Hold” and a consensus target price of $30.89.

Chemours Price Performance

NYSE:CC opened at $27.03 on Friday. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $39.05. The company has a quick ratio of 1.00, a current ratio of 1.54 and a debt-to-equity ratio of 5.40. The firm has a market cap of $4.02 billion, a P/E ratio of -17.44 and a beta of 2.00. The business’s 50-day moving average price is $26.73 and its 200 day moving average price is $27.80.

Chemours (NYSE:CC) last released its earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. As a group, sell-side analysts predict that The Chemours Company will post 2.23 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.70%. Chemours’s dividend payout ratio (DPR) is presently -64.52%.

Chemours Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.